KATHMANDU: Ford Motor Company and Mahindra & Mahindra have signed a definitive agreement to create a joint venture that will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in high-growth emerging markets around the world.
Mahindra and Ford will form a joint venture (JV), with Mahindra owning a 51 per cent controlling stake and Ford owning a 49 per cent stake, as per a media release. Ford will transfer its India operations to the joint venture, including its personnel and assembly plants in Chennai and Sanand. The JV will be responsible for growing the Ford brand in India and exporting its products to Ford entities globally.
A version of this article appears in print on October 03, 2019 of The Himalayan Times.